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HUL Acquires 90.5% Stake in D2C Beauty Brand Minimalist for ₹2,955 Cr

Hindustan Unilever Limited (HUL) has announced its plans to acquire a 90.5% stake in Jaipur-based premium D2C beauty brand Minimalist for ₹2,955 Crore.

By Ishita Ganguly
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HUL would acquire Minimalist through secondary buyouts and a primary infusion

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Indian fast-moving consumer goods company Hindustan Unilever Limited (HUL) has announced its plans to acquire a 90.5% stake in Jaipur-based premium beauty brand Minimalist.

HUL would acquire Minimalist through secondary buyouts and a primary infusion, with a pre-money enterprise value of ₹2,955 crore, which is subject to adjustments as specified in the transaction documents.

As part of the agreement, the remaining 9.5% stake would be acquired from the founders within two years.

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About the beauty brand Minimalist

The direct-to-consumer (D2C) beauty brand Minimalist is one of the most successful digital-first brands in India having an Annual Revenue Run Rate (ARR) of ₹500 crore.

Founded in 2020 by Mohit Yadav and Rahul Yadav, the beauty brand Minimalist will become part of HUL’s Beauty & Wellbeing division, led by Harman Dhillon.

“This acquisition is another step in growing our Beauty & Wellbeing portfolio in high-growth premium demand spaces. The Minimalist team has created a great brand built on science and product efficacy," remarked Rohit Jawa, CEO and Managing Director of HUL.

The founders of Minimalist jointly shared a statement that they are grateful for the support they have received in India and they are looking forward to making their products more accessible across the country with “HUL’s robust offline distribution network”. 

“This partnership also paves the way for our expansion into international markets helping us realise our dream of taking Minimalist to the world”, the statement read.

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Tags: beauty